British house prices increased in the three months to September, but at the slowest pace recorded in three years according to data recently released by Halifax. This is a further sign say many experts that the housing market is cooling off following the Brexit vote in June. 

The increase from August to September was a modest 0.1%, which was the first increase since June. In the three months to August prices slowed to 5.8% from 6.9%.

Some experts believe the cooling down of demand, despite continued low interest rates offered by lenders, is clearly related to the Brexit vote. It could also be due to a wait and see attitude from potential buyers and home movers. Others, however, believe it is also due to the usual seasonal forecasts for a slowdown as people are more focused on enjoying the end of summer and going on holiday versus shopping around for property.

The demand is still strong from first time buyers and interest remains high from hopeful home buyers and home movers according to property agents and online property listers. The cheap mortgages and lower asking prices showing up on the market should help to sustain the housing market to reward continued strength throughout 2016.

Not only are mortgages still cheap and attractive with incentives from lenders, but remortgages are as well. Homeowners are finding that low interest rates, the opportunities for cash equity release, and the abundance of fixed rate deals are worth their attention. This trend should remain through the end of the year.